Additionally, by incorporating flexibility into its use—potentially housing commercial tenants during repairs at another property—I enhanced the strategic utility of the investment within my broader portfolio.

We are currently considering a wedding/event venue for that purpose.

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

Hello,I recently got pre approved and now looking at properties to house hack in the Chicago land area (suburbs).

Think the CNA at your local hospital or your kids pre-school teacher.

Add mortgage rate likely coming down some too and we are back to Pre Covid market again.  

HUD might have programs or options for individuals facing pre-foreclosure due to COVID-19 related hardships.Communicate with Your Buyer: Discuss the situation with your buyer transparently.

Get pre approved first for conventional so you know if you can use that as an exit strategy but purchase with hard money.

For investors who own or have owned wedding or event venues, what are the typical lease terms you've leveraged?

I think that there's a spin to your post that needs to incorporate the idea of being "welcoming" and "encouraging" of every member to pursue the long-term benefits of real estate responsibly, even as we of course do not want to encourage irresponsible real estate investing decisions.Curious to hear other's thoughts here.